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Nadir Figueiredo Indústria e Comércio Q1 loss widens YOY

Nadir Figueiredo Indústria e Comércio SA said its first-quarter normalized net income was a loss of 62 Brazilian centavos per share, compared with a loss of 6 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 8.4 million reais, compared with a loss of 781,380 reais in the prior-year period.

The normalized profit margin dropped to negative 6.6% from negative 0.6% in the year-earlier period.

Total revenue grew year over year to 127.9 million reais from 122.5 million reais, and total operating expenses climbed 6.5% year over year to 128.9 million reais from 121.0 million reais.

Reported net income totaled a loss of 9.7 million reais, or a loss of 71 centavos per share, compared to income of 979,000 reais, or 7 centavos per share, in the prior-year period.

As of May 14, US$1 was equivalent to 3.01 reais.